Key Stats
Tesla, Inc. is an American electric vehicle and clean energy company headquartered in Austin, Texas. The company designs, manufactures, and sells battery electric vehicles, stationary battery energy storage devices, solar panels, and related products.
Tesla started as a small startup with a mission to accelerate the world’s transition to sustainable energy. The company has grown into one of the most valuable automakers globally.
Under CEO Elon Musk’s leadership, Tesla has expanded from producing premium sports cars to mass-market vehicles. The Model Y became the world’s best-selling car in 2023, marking the first time an electric vehicle claimed that title.
Tesla Motors History
Tesla Motors Co-founders
A 2009 lawsuit settlement allows five individuals to call themselves Tesla co-founders. The original founders conceived the idea of an electric sports car using lithium-ion batteries.
Tesla Motors Competitors
Tesla faces growing competition in the electric vehicle market from both established automakers and new entrants. Chinese manufacturer BYD has emerged as Tesla’s closest rival in global EV sales.
| Company | Headquarters | Primary Focus |
|---|---|---|
| BYD | Shenzhen, China | EVs and Plug-in Hybrids |
| Rivian | Irvine, California | Electric Trucks and SUVs |
| General Motors | Detroit, Michigan | Full EV Lineup |
| Ford Motor | Dearborn, Michigan | Electric Trucks and SUVs |
| Volkswagen Group | Wolfsburg, Germany | ID Series EVs |
| Lucid Motors | Newark, California | Luxury Electric Sedans |
| Hyundai-Kia | Seoul, South Korea | IONIQ and EV Series |
| BMW | Munich, Germany | i Series Electric Vehicles |
| Mercedes-Benz | Stuttgart, Germany | EQ Series Luxury EVs |
| NIO | Shanghai, China | Premium Electric SUVs |
Tesla Motors Acquisitions
Tesla has pursued strategic acquisitions to strengthen its manufacturing capabilities, battery technology, and energy business. The company prefers vertical integration, producing key components in-house rather than relying on suppliers.
The largest acquisition was SolarCity in 2016 for approximately $2.6 billion. SolarCity, founded by Elon Musk’s cousins Peter and Lyndon Rive, specialized in residential solar installations. This deal created Tesla Energy, expanding the company beyond automobiles into solar panels, Solar Roof tiles, and Powerwall battery storage systems. The acquisition faced shareholder scrutiny due to Musk’s involvement with both companies, though a 2022 court ruling found Tesla paid fair value.
In 2016, Tesla also acquired Grohmann Engineering, a German automation company, for approximately $135 million. This purchase helped Tesla improve manufacturing efficiency for Model 3 production. The company was rebranded as Tesla Automation and focuses on building production line robots.
The 2017 acquisition of Perbix, a Minnesota-based manufacturer of automated equipment, further enhanced Tesla’s production capabilities. Terms were not publicly disclosed but estimates suggest around $10.5 million.
Maxwell Technologies joined Tesla in 2019 through a $218 million all-stock deal. Maxwell specialized in ultracapacitors and dry electrode battery technology, which Tesla integrated into its battery development efforts. That same year, Tesla acquired Hibar Systems, a Canadian company making battery manufacturing equipment, and DeepScale, a computer vision startup focused on autonomous driving technology.
Tesla Motors Revenue
Tesla generated $97.69 billion in revenue during 2024, a slight increase from the previous year. The company has experienced rapid revenue growth over the past decade, driven by increasing vehicle deliveries and expanding energy storage deployments.
Tesla Motors Market Cap
Tesla’s market capitalization reached approximately $1.59 trillion in February 2026, making it one of the world’s most valuable companies. The stock experienced dramatic growth between 2020 and 2021, briefly exceeding $1 trillion in late 2021.
FAQs
Who founded Tesla Motors?
Martin Eberhard and Marc Tarpenning founded Tesla Motors in July 2003. Elon Musk, JB Straubel, and Ian Wright are also recognized as co-founders following a 2009 legal settlement.
When did Tesla go public?
Tesla completed its IPO on June 29, 2010, on NASDAQ. The company raised $226 million, becoming the first American automaker to go public since Ford in 1956.
What was Tesla’s first car?
The Tesla Roadster, launched in 2008, was the company’s first production vehicle. It was the first highway-legal electric car to use lithium-ion battery cells.
Where is Tesla headquartered?
Tesla is headquartered in Austin, Texas. The company relocated from Palo Alto, California in 2021 following the construction of Gigafactory Texas.
How many cars does Tesla sell annually?
Tesla delivered approximately 1.79 million vehicles globally in 2024. The Model Y and Model 3 account for the majority of sales volume.